So, before blaming Biden for "shutting down" wells from pumping, what stopped them under Trump? What was the excuse then?
And Riddick, the "Carl Marx" reference aside, isn't the energy sector a national security issue? Let's just agree to agree on this point -energy production IS a national security issue.
Googling the phrase . energy and national security issue brings up about 916,000,000 results. From what I see, energy BEING a national security issue is a given.
https://www.google.com/search?q=energy+ ... nt=gws-wiz
That being the case, and with the energy industry's abysmal record on production and cost containment, why continue to status quo? If the energy supply is a national security issue, when why on Earth would we want to continue with a system where the main focus is return on investment?
We go through this each and every year: "It's a global economy", BUT.......
"we have to gear up (or down) the refining capabilities to refine for summer or winter blends."
We KNOW these things will occur like clockwork, YET......the brain trust running the energy sector just cannot seem to plan for this and manage the supply effectively.
So....... like clockwork, the prices spike (regardless of who's president) and we all pay more at the pump. Meanwhile the energy sector, by
consciously restricting supply, wracks-up record profits.
And this is better than having a nationally-controlled system because.............??????
Of course, there is the 500lb gorilla in the room that no one wants to address.........
Snippet:
"Investors have demanded that producers maintain capital discipline and grow volumes modestly. Returns have taken priority over growth. Up until recently, a producer planning to significantly grow production volumes would likely have been punished by investors. However, that sentiment may be changing with oil prices where they are and the potential need to replace Russian barrels on the global market."
https://www.forbes.com/sites/rrapier/20 ... 1bf8c96b6f
Holy crap balls Batman!!!!! Could it be that the American investor is the one to blame here demanding higher returns?
So "patriotic".........
